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Hyperliquid Strategies seeks US futures broker status, reports $620.6 million profit

Hyperliquid Strategies asked the CFTC for approval to act as a registered futures broker for US clients. It reported $13.3 million in quarterly revenue and a $620.6 million profit tied to paper gains on HYPE.

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Hyperliquid Strategies has filed with the US Commodity Futures Trading Commission, the CFTC, to become a registered futures commission merchant, or FCM. An FCM is a firm that handles trades in futures on behalf of customers. The filing is aimed at serving clients in the United States.

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The company also reported its quarterly results. Revenue came to $13.3 million for the quarter. Net income reached $620.6 million.

In numbers

  • $13.3 millionQuarterly revenue
  • $620.6 millionNet income

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The large profit comes from paper gains on the HYPE token. A paper gain is a rise in the value of assets a company holds that has not been turned into cash by selling them.

The filing is tied to plans to bring perpetual futures to the US. A perpetual future is a contract that tracks a price and has no set expiry date. The material does not say when the CFTC might decide on the application.

The quarterly revenue beat expectations, according to the results for the third quarter. The gap between revenue and net income shows how much of the profit came from the rising value of HYPE rather than from business activity.

Quarterly results

  • Revenue13.3 million $
  • Net income620.6 million $

Figures are from Hyperliquid Strategies' quarterly results.

Background

A futures commission merchant is a firm that takes customer orders for futures contracts.

Where
United States
Published
Section
Crypto

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
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